Colorado Hospital Price Finder Launched to Increase Healthcare Price Transparency
On Oct. 22, Governor Polis, Lt. Governor Primavera, and PatientRightsAdvocate.org (PRA) launched the Colorado Hospital Price Finder—a tool from a non-profit powered by information made available under HB22-1285, a law signed by Governor Polis to connect individuals from Colorado with services, increase price transparency, and save people money on healthcare.
A press release on the launch said, “This tool compliments the state-generated price transparency initiative Governor Polis and the Department of Health Care Policy and Financing announced earlier this year, empowering Coloradans with the information they need about the cost of care.”
Further, “HB22-1285 - Prohibiting Collection Hospital Not Disclosing Prices, sponsored by Representatives Patrick Neville and Daneya Esgar, and Senators Dominick Moreno and John Cooke, prohibited hospitals from taking debt collection action against a patient if the hospital was not in compliance with federal reporting requirements. SB23-252 - Medical Price Transparency, sponsored by Senators Kevin Van Winkle and Julie Gonzales, and Representatives Lindsay Daugherty and Anthony Hartstook, requires hospitals to make reimbursement rates publicly accessible. The Administration recently announced that the landmark reinsurance initiative will save Coloradans $493 million on health care premiums in 2025. Without the reinsurance initiative, costs would be higher for hardworking Coloradans.”
The new service aims to provide people in Colorado with the ability to research prices at every hospital and shop for what works best for them. The tool will show the total price that the hospital charges each payer, although the final amount charged to individuals in Colorado depends on each person’s insurance plan and coverage.
